Concordia Plan Services supports church workers through retirement by offering the Concordia Retirement Plan and the Concordia Retirement Savings Plan.
The Concordia Retirement Plan (CRP) is a defined benefit plan which consists of two benefit Options: the Traditional Option and the Account Option. A worker’s eligibility for specific benefits under the CRP depends on whether his/her employer: participates in the CRP; offers the Traditional or the Traditional and Account Option(s); and has enrolled the worker in the CRP.
The Concordia Retirement Savings Plan (CRSP); is a 403(b) tax-deferred savings plan that allows workers to invest pre-tax dollars for retirement. The CRSP also offers employers the opportunity to provide CRSP Employer Contributions (match or flat dollar) to their workers. The CRSP is administered by MetLife. Workers are eligible to participate in the CRSP if they are enrolled in the Concordia Retirement Plan and their employer has adopted the CRSP.